Citigroup preliminary terms for 5-year SPXI4EV6-linked autocallable contingent coupon securities

Issuer and guarantee: Citigroup Global Markets Holdings Inc. issues the securities, and Citigroup Inc. guarantees them.

Structure: The offering consists of 5-year autocallable contingent coupon securities linked to the S&P 500 Futures 40% Intraday Edge Volatility TCA 6% Decrement Index (USD) ER, ticker SPXI4EV6, with a $1,000 stated principal amount per security.

Contingent coupon: 10.00% per annum, paid monthly only if the underlying closes at or above the 75.00% coupon barrier on the related valuation date; previously unpaid contingent coupons are included if a later valuation date meets the barrier.

Autocall: If the underlying closes at or above the 90.00% autocall barrier on an autocall date, the securities are automatically called for principal plus the related contingent coupon; autocall dates are monthly beginning after one year.

Maturity downside: At maturity, the payment is $1,000 if the underlying is at or above the 80.00% final buffer; below that, investors lose 1% of stated principal for every 1% depreciation beyond the 20.00% buffer.

Credit and downside risk: All payments are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., and the securities offer downside but no upside exposure to the underlying.

Listing and liquidity: The securities will not be listed on any securities exchange, and the estimated value on the pricing date will be less than the issue price.